Kornitzer Capital Management Inc. KS Sells 50 Shares of Caterpillar Inc. (NYSE:CAT)

Kornitzer Capital Management Inc. KS decreased its position in Caterpillar Inc. (NYSE:CAT) by 3.8% during the 3rd quarter, Holdings Channel reports. The firm owned 1,272 shares of the industrial products company’s stock after selling 50 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Caterpillar were worth $498,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CAT. Legal & General Group Plc raised its stake in shares of Caterpillar by 2.0% during the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after acquiring an additional 75,973 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Caterpillar by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after purchasing an additional 165,358 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Caterpillar by 39,534.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after buying an additional 2,131,276 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Caterpillar by 10.4% during the second quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after buying an additional 198,123 shares during the period. Finally, Capital Research Global Investors raised its holdings in shares of Caterpillar by 6.3% during the first quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock valued at $740,225,000 after acquiring an additional 119,326 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CAT. Robert W. Baird boosted their price objective on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. UBS Group increased their price target on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Barclays upped their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $362.40.

Insider Transactions at Caterpillar

In other news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lange Bob De sold 12,657 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the transaction, the insider now directly owns 71,107 shares in the company, valued at $29,171,646.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,749 shares of company stock worth $9,251,912 over the last three months. 0.29% of the stock is currently owned by company insiders.

Caterpillar Trading Down 3.6 %

NYSE:CAT opened at $393.37 on Friday. Caterpillar Inc. has a 52 week low of $233.82 and a 52 week high of $418.50. The stock has a market cap of $190.74 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 1.85 and a beta of 1.10. The company’s 50 day moving average price is $376.80 and its 200-day moving average price is $352.75. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $5.52 EPS. On average, equities research analysts forecast that Caterpillar Inc. will post 21.77 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.